CEX.IO Cryptocurrency Exchange Reviews | Details, Pros, and Cons

If you’re looking for a way to send money to someone using Bitcoin, then you have to switch your attention to CEX.IO cryptocurrency exchange. This is a well-structured solid cryptocurrency platform that helps you sell and buy Bitcoin to and from another user. CEX.IO continues to improve as one of the best platforms to buy Bitcoin and other cryptocurrencies. The main purpose of this platform is to find the right product for you, which is why it’s just a good choice. You just need to get the detailed information provided for you on this site about the CEX.IO cryptocurrency exchange. CEX.IO cryptocurrency exchange is a London-based exchange platform which lets you buy, sell, and trade cryptocurrencies. Giving the fact that it’s quite available to all countries making use of credit cards to withdraw, there are some countries that are not able to gain access to the website because of the restriction of credit card and bank transfers to the platform for e.g.; Afghanistan, Iraq, Vietnam, etc. Before you can be able to access the CEX.IO cryptocurrency exchange, you have to make sure that it’s supported in your current country.

Proper Details of the CEX.IO Cryptocurrency Exchange

In order to get started, you first need to register for an account at the platform’s website. Once you’ve registered and confirmed your email, you’ll then have to start making transactions on Bitcoin. But also, if you decide to send cryptocurrency to someone, you’ll have to transfer the cryptocurrency to your recipient’s wallet.

Buying of Bitcoin does come with a 7% transaction fee for an instant purchase. But if you decide to use a deposit or a fiat currency that is not supported by CEX.IO, then you have to bear in mind that bank charges may apply for the currency conversion. When buying cryptocurrency on CEX.IO, you need to purchase a minimum of 0.01 BTC, while the maximum amount is 10 BTC. There’s also the possibility of you withdrawing an unlimited amount in the cryptocurrency, meaning that you can send as many bitcoin to your recipient as you’d like. Exchange rates on CEX.IO are based on the platform’s market activity, which enables traders on CEX.IO to buy and sell cryptocurrency while exchange rates fluctuate simultaneously. Though the exchange rate can change, you’ll typically find that it’s within 0.5% to 2% of the mid-market rate or the rate banks and transfer services use when the trade among themselves.

One thing has been needed upon this transaction is to deposit a fiat currency into the CEX.IO exchange, e.g.; USD, EUR, or Pounds. If you wish to use the fiat currency, there are different deposit and withdrawal limits depending on which type of account you have. You have the Basic account which allows you to make maximum deposit of $300 daily and $1,000 monthly with a withdrawal maximum of $500 daily and $2,000 monthly, The next is the Verified account which enables you to deposit maximum of $20,000 daily and $100,000 monthly with a withdrawal maximum of $50,000 daily and $300,000 monthly, but as for the Corporate accounts, there is practically no deposit or withdrawal limits been associated with it.

There are several kinds of transfers CEX.IO does support, namely; Bank transfers, Credit card, Crypto Capital, Vouchers, and Withdrawals. If you want to transfer Bitcoin to another user, there are steps required:

You have to use a fiat currency to buy cryptocurrency.

Then send cryptocurrency to your recipient’s wallet address.

After that, your recipient will then sell the cryptocurrency for fiat currency.

Related

About The Author

Christian Nnaemeka is an Educationist, an Entrepreneur, and a Writer. His writings are practically based on the solid foundation of his creative mind with a clear focus to improve more and equally develop his social environment.